Basis

(1) Cost BasisAn amount attributed to an asset for income tax purposes; used to determine gain or loss on sale or;The dollar amount assigned to propertyThe rights or interests a person has in the thing he owns; not, in the technical sense, the thing itself. at the time of acquisitionThe act or process by which a person procures property. under provisions of the Internal Revenue Code for the purpose of determining gainA profit, benefit, or value increase., lossThe occurrence of the event for which insurance pays. and depreciationThe loss in value from all causes to property, after construction or purchase. in calculating the income taxA tax on income. to be paidThis is the amount of tax posted as paid for the year in question, either in installment payments or upon the sale or exchangeWhen ownership of like-kind properties are transferred between two or more owners; can result in postponement of the property. (2) Adjusted Cost Basis;The cost basis after the applicationUnder the Equal Credit Opportunity Act (ECOA), an oral or written request for an extension of credit of certain additions for improvementsAn addition to land which costs labor or capital (buildings, pavements, etc.), more or less permanently, etc., and deductions for depreciation, etc.

Basis

An amount attributed to an assetThe entire property of a person, association, corporation, or estate applicable or subject to the payment of debts. for income taxA tax on income. purposes; used to determine gainA profit, benefit, or value increase. or lossThe occurrence of the event for which insurance pays. on sale or transferChange of jurisdiction over real property from one Federal agency or department to another, including; used to determine the valueThe terms "full value", "full cash value", "cash value", "actual value" and "fair market value" mean of a giftA sum of money, including amounts from a relative or a grant from the borrower's employer, a municipality, (except donations to charities, which generally are recorded at the current value of the asset at the time the gift is made).

Basis

The difference between the spotMarket of immediate delivery of and payment for the product. or cash priceThe price in the marketplace for actual cash or spot commodities to be delivered via customary market channels. of a commodityA commodity, as defined in the Commodity Exchange Act, includes the agricultural commodities enumerated and the priceThe dollar amount that was offered, asked, or actually paid for a property. of the nearest futures contractAn agreement to purchase or sell a commodity for delivery in the future: (1) at a price that is determined for the same or a related commodity. Basis is usually computed in relation to the futuresSee Futures Contract. contractThe formal legal document, also known as the "policy" that describes the agreement between the policyholder next to expire and may reflect different time periods, product forms, gradesVarious qualities of a commodity., or locations.

Basis

The financial interestThis is the amount that is imposed when payment is remitted after the due date. one has in a propertyThe rights or interests a person has in the thing he owns; not, in the technical sense, the thing itself. for taxEnforced charge exacted of persons, corporations and organizations by the government to be used to support purposes. Basis is adjusted down by depreciationThe loss in value from all causes to property, after construction or purchase. and up by capital improvementsProperty improvements that either will enhance the property value or will increase the useful life of the property..

Basis

The total amount paidThis is the amount of tax posted as paid for the year in question, either in installment payments or for a propertyThe rights or interests a person has in the thing he owns; not, in the technical sense, the thing itself., including equityThe value of a property beyond any liens against it. Also referred to as owner's interest. capital1. Assets less liabilities, representing the ownership interest in a business; 2. A stock of accumulated and the amount of debtThat which is due from one person or another; obligation, liability. incurred. For a LIHTC project, the initial valueThe terms "full value", "full cash value", "cash value", "actual value" and "fair market value" mean that is eligible for taxEnforced charge exacted of persons, corporations and organizations by the government to be used to support credits.